The ongoing crisis has turned out to be a troublemaker, as well as a reflector. It has exposed the vulnerability of individuals and the society as a whole. A few days back, there was a heart wrenching news telecast about a TV actor committing suicide due to financial problems. This incident wasn’t the first of its kind.  The anxiety and depression amongst the younger members of our society, is on a rise. New career, irregular or low income, loans, social pressure, disappointments or setbacks in career, long working hours – there are many burdens, that these young men and women, are carrying. The recent turn of events is driving many of them over the edge. As a society, we must step up to extend our help and support to them. Our hopes are pined on the young population, to drive our country to progress and prosperity.

As a financial planner, I would like to put across a few suggestions for these youngsters. While it is very important to have passion for the work we do, it also helps to have a practical view of your financial situation. You would have noticed that the rock climbers and the zipliners, take a big risk indulging in the sport. But even these dare devils use a harness. While taking risks in pursuit of your dream career, ask yourself, where is my harness?

I remember feeling so rich and exhilarated as I held my first salary cheque. I suppose, it is a feeling common to most of us and the temptation to spend is overpowering. However, individuals who are only a few months into a job or professional work, should be mindful of their expenses. Avoid taking loans early in your career, unless it is absolutely necessary.  Gradually try to build a fund, to help tide over emergencies such as pay cut or loss of job. Parallelly, keep on investing in new skills to improve your career prospects and income. In doing so, please don’t miss out on an evening out with your friends or a family gathering. Spending time with the people we love, always keeps us motivated to do well.  They are your support system. If you have any worries, financial or personal, discuss them with a mature family member or a friend. It also helps to have a mentor, someone who could be a guiding force in your life.

Having a life partner and a soulmate, is every young person’s dream. It is a partnership, which will help you to tide challenges at various stages in life. Ideally, both of you should be earning, so there is a financial cushion during the times of uncertainty. Plan your finances together, early on. Buy life and health insurance, covering both of you.

Life is full of challenges, at every stage. And there are joys peeping at us at every corner. Our home, family, friends, work, travels, good food and community service – make our life an enriching experience.  No matter how tough the going is, remember that life is a precious gift. Seek help and support, if required. More so, plan and prepare so that you are better equipped to handle the ups and downs in life.